What's he been up to lately?

He is now positioning himself to become a major player in South Australia's energy market, aiming to supply electricity through renewable sources and committing to a giant battery with the same capacity as Elon Musk's Jamestown project.

GFG Alliance said its investments will increase steel production by about half to 1.5 million tonnes per year, widen the steelworks' product offering and open up new high-margin domestic and export markets.

The plan includes upgrades across the steelworks, including the rolling mill and investment in a new pre-conditioning process to reduce feed costs.

The Gupta approach

Mr Gupta is known for seeking out companies on their last legs.

According to the Liberty House website, he has acquired and relaunched 25 businesses since 2013, saving close to 4,500 jobs and helping to revitalise the UK automotive and aerospace industries.

Scotland's last major steelworks, Britain's last remaining aluminium smelter and the UK's largest electric arc furnace for scrap steel are all now part of his portfolio.

News stories from the BBC state Mr Gupta has previously kept workers on half-pay while finalising past deals, despite his newly purchased sites being temporarily mothballed.

He has also ramped up his focus on renewable energy, launching a low-carbon production method called Greensteel in 2016.